Social Enterprise UK comments on Newsnight coverage

Responding to BBC Newsnight’s coverage of the Social Enterprise Schools report, published today by the Policy Exchange thinktank, Social Enterprise UK’s Chief Executive, Peter Holbrook, said:

“The story blurred the lines between the private sector and social enterprise, which is an important concern for our sector. Private companies exist to make a profit for their owners and shareholders, whereas social enterprises exist and make a profit in order to tackle social issues. The social purpose is enshrined in a social enterprise’s governing documents and takes precedence. A private company simply reinvesting 50% of its profits back into the business does not make it a social enterprise.”

About garethhart

Gareth is the Director of Iridescent Ideas CIC. Our vision is to provide great business services that enable social enterprises, charities, and other organizations to achieve their aims and objectives. We want to make your social business shine!